the Z denotes UTC, so you should parse to an aware datetime object using either strptime with the %z directive:
from datetime import datetime
s = '2020-10-01T00:00:00Z'
dt = datetime.strptime(s, '%Y-%m-%dT%H:%M:%S%z')
print(dt)
# 2020-10-01 00:00:00+00:00
or fromisoformat with a little hack:
dt = datetime.fromisoformat(s.replace('Z', '+00:00'))
print(dt)
# 2020-10-01 00:00:00+00:00
You can do the same thing when converting back to string:
out = dt.isoformat().replace('+00:00', 'Z')
print(out)
# 2020-10-01T00:00:00Z
strftime won't give you Z but for example UTC:
out = dt.strftime('%Y-%m-%dT%H:%M:%S %Z')
print(out)
# 2020-10-01T00:00:00 UTC